From this year, Spain will be able to spend 3,200 million euros to combat youth unemployment

All unemployed young people are in luck. Spain may spend, from now until 2023, more than 3,200 million euros in aid to find jobs for the more than 1.1 million people under the age of 30 who are unemployed.

The Minister of Employment and Social Security, Fatima Báñez, has announced that, from now on, the State will have 837 million euros more, from national and Community funds, which will be used to fund the European Youth Guarantee Programme.

The first step will be to create a programme through which young people under the age of 30 who neither study or work, but agree to a training and learning contract, will receive 430 euros from the government. This amount will be added to the salary established in companies’ labour agreements and, therefore, the beneficiaries will be earning more than 1,138 euros a month spread over 14 payments. With this measure, the government aims to put an end to the lack of training, and promote and reward work among young people.

Furthermore, companies that, after this first contact with the training courses, hire those young people indefinitely, will receive a bonus. The proposal, which is still on the drawing boards, will consist of a subsidy worth 250 euros a month on the social security payments over a period of three years. Thus, the overall aid will total 3000 euros a year, to be added to existing subsidies.